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WF

Welch & Forbes Portfolio holdings

AUM $8.23B
1-Year Est. Return 17.62%
This Fund
S&P 500
This Quarter Est. Return
+11.01%
1 Year Est. Return
+17.62%
3 Year Est. Return
+73.71%
5 Year Est. Return
+105.59%
10 Year Est. Return
+384.92%
AUM
$6.62B
AUM Growth
+$572M
Cap. Flow
-$50.6M
Cap. Flow %
-0.76%
Top 10 Hldgs %
31.91%
Holding
376
New
9
Increased
65
Reduced
200
Closed
10

Top Buys

Rank Stock Value
1
MDY icon
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
+$10.5M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$9.97M
3
VLTO icon
Veralto
VLTO
+$9.58M
4
XYL icon
Xylem
XYL
+$4.34M
5
SHOP icon
Shopify
SHOP
+$2.72M

Top Sells

Rank Stock Value
1
DHR icon
Danaher
DHR
+$19M
2
IWM icon
iShares Russell 2000 ETF
IWM
+$10.4M
3
ORLY icon
O'Reilly Automotive
ORLY
+$3.77M
4
USB icon
US Bancorp
USB
+$3.46M
5
VZ icon
Verizon
VZ
+$3.4M

Sector Composition

Rank Sector Weight
1 Technology 25.56%
2 Healthcare 18.14%
3 Financials 11.75%
4 Consumer Discretionary 11.66%
5 Industrials 8.36%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CVS icon
101
CVS Health
CVS
$134B
$8.85M 0.13%
112,029
-7,140
-6% -$508K
LQD icon
102
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.3B
$8.19M 0.12%
74,019
-2,151
-3% -$224K
RPM icon
103
RPM International
RPM
$13.8B
$7.82M 0.12%
70,070
-665
-0.9% -$67.2K
SYY icon
104
Sysco
SYY
$40.6B
$7.71M 0.12%
105,477
-9,184
-8% -$634K
IWM icon
105
iShares Russell 2000 ETF
IWM
$80.2B
$7.56M 0.11%
37,667
-57,931
-61% -$10.4M
AMGN icon
106
Amgen
AMGN
$209B
$7.39M 0.11%
25,666
-15
-0.1% -$4.09K
CAT icon
107
Caterpillar
CAT
$373B
$7.32M 0.11%
24,774
-511
-2% -$133K
SHOP icon
108
Shopify
SHOP
$159B
$7.14M 0.11%
91,673
+42,581
+87% +$2.72M
NVS icon
109
Novartis
NVS
$301B
$7.07M 0.11%
70,044
-643
-0.9% -$62.1K
BMY icon
110
Bristol-Myers Squibb
BMY
$132B
$6.96M 0.11%
135,704
-14,928
-10% -$784K
MDT icon
111
Medtronic
MDT
$110B
$6.91M 0.1%
83,834
-18,116
-18% -$1.38M
PGR icon
112
Progressive
PGR
$124B
$6.9M 0.1%
43,295
-509
-1% -$79.7K
DUK icon
113
Duke Energy
DUK
$98.4B
$6.66M 0.1%
68,607
-4,253
-6% -$387K
MA icon
114
Mastercard
MA
$510B
$6.42M 0.1%
15,041
-209
-1% -$84K
NKE icon
115
Nike
NKE
$62.7B
$6.39M 0.1%
58,832
+454
+0.8% +$48.8K
GDX icon
116
VanEck Gold Miners ETF
GDX
$23.5B
$6.38M 0.1%
205,767
+7
+0% +$205
VEU icon
117
Vanguard FTSE All-World ex-US ETF
VEU
$66.8B
$6.36M 0.1%
113,326
+87
+0.1% +$4.61K
ITW icon
118
Illinois Tool Works
ITW
$81.6B
$6.31M 0.1%
24,105
-1,066
-4% -$255K
XYL icon
119
Xylem
XYL
$27.3B
$6.08M 0.09%
53,133
+43,475
+450% +$4.34M
MMM icon
120
3M
MMM
$90.8B
$5.89M 0.09%
64,423
-2,155
-3% -$173K
GE icon
121
GE Aerospace
GE
$368B
$5.86M 0.09%
57,516
-485
-0.8% -$44.9K
ADI icon
122
Analog Devices
ADI
$179B
$5.76M 0.09%
28,995
-630
-2% -$113K
EQIX icon
123
Equinix
EQIX
$103B
$5.73M 0.09%
7,120
+448
+7% +$344K
ICLR icon
124
Icon
ICLR
$12.8B
$5.67M 0.09%
20,023
– –
GIS icon
125
General Mills
GIS
$19.4B
$5.62M 0.08%
86,270
-300
-0.3% -$19.4K
3 4
5
6 7

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Welch & Forbes's Q4 2023 Portfolio in Review

As of Q4 2023, Welch & Forbes held 376 positions worth $6.62B, up 9.5% from $6.05B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Welch & Forbes's Q4 2023 filing shows 9 new, 65 increased, 200 reduced and 10 closed positions. Its largest new stake was Veralto: 128,298 shares worth $10.6M. The largest sale was Danaher, an estimated $19M.

By sector, the portfolio is most concentrated in Technology at 26% of assets, up from 24% a quarter earlier, followed by Healthcare and Financials.

  • Welch & Forbes's largest Q4 2023 buy was Veralto: 128,298 shares worth $10.6M.
  • Welch & Forbes added most to State Street SPDR S&P MIDCAP 400 ETF Trust in Q4 2023, an estimated $10.5M increase.
  • Welch & Forbes's biggest Q4 2023 reduction was Danaher, cutting an estimated $19M.
  • Welch & Forbes fully exited Kinsale Capital Group in Q4 2023, selling an estimated $2.39M.
  • Welch & Forbes's ten largest holdings make up 32% of its $6.62B portfolio in Q4 2023.
  • Welch & Forbes opened 9 new positions and closed 10 in Q4 2023.
  • Welch & Forbes's portfolio value rose 9.5% quarter-over-quarter to $6.62B.

Based on Welch & Forbes's 13F filing for Q4 2023, filed 6 Feb 2024.